MIRA INFORM REPORT
|
Report Date : |
28.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
METRO-LINK EXPRESS
FOR GANDHINAGAR AND AHMEDABAD (MEGA) COMPANY LIMITED |
|
|
|
|
Registered
Office : |
5th
Floor, Nirman Bhavan, Opposite New Sachivalaya, Gate No.4, ‘CH’ Road, Sector
10/A, Gandhinagar – 382 010, Gujarat |
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|
|
|
Country : |
India |
|
|
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|
Financials (as
on) : |
31.03.2014 |
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|
|
Date of
Incorporation : |
04.02.2010 |
|
|
|
|
Com. Reg. No.: |
04-059407 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.8000.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U60200GJ2010SGC059407 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCM3807N |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Subject's main object is to
undertake and carry on the business as nodal agency and / or Commissioning
Authority for Mass Rapid Transport System by establishing Metro-Link between
Gandhinagar and Ahmedabad and in and around and its expansion in the State of
Gujarat. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Project Under Implementation |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
Litigation : |
Exist |
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|
Comments : |
Even though the company was incorporated during 4th
February 2010, project of the company is under implementation. As per director reported of 2014, construction activated for phase-1
is expected to commence from December 2014. Further company has incurred huge
pre –operating expenses which has resulted huge accumulated losses recorded
by the company. As per the status in the registrar of companies business appears to be
active. Payments are reported to unknown. The company can be considering for business dealing with some caution.
|
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
N E W S
Verdict Implications
: Apex court order may alter coal import dynamics. Traders go slow on talks
over coal supply contracts, uncertainty over cancellation of blocks weigh on
stocks.
Recent arrest of the
Chennai head of the Registrar of Companies, the ministry of corporate affairs
arm that ensures that companies file all the information required by the
Companies Act is the latest manifestation of a messy fight between a father and
his adopted son for the control of Rs 40000 mn business empire. The Central
Bureau of Investigation arrested Manumeethi Cholan after he accepted Rs 10
lakhs as bribe from M A M Ramaswamy, a CBI official said.
Central Bureau of
Investigation books Electrotherm for cheating Central Bank of Rs 4360 mn.
Infosys maintains
revenue guidance. COO Rao says attrition still an area of concern and it would take
a few more quarters to bring down levels to 13-15 %.
DHL to invest
Euro 100 mn in India over next 2 years. The firm has chosen India to pilot its
e-commerce business model for the Asia-Pacific region.
Blackstone may buy
stake in BlueRidge SEZ in line with the fund’s real estate strategy in India.
Kingfisher Airlines
Ltd grounded in October 2012 under the weight of heavy debt and accumulated
losses, recently approached the Delhi high court for relief in two separate
cases. The airline challenged a notice by Punjab & National Bank alleging
that It had wilfully defaulted on Rs 7700 mn of loans and sought more time to
comply with the requirements under the listing agreements with the Stock
Exchanges.
OnMobile likely to
sack another 300 employees. The lay-offs follow a spate of senior-level exits
over the past two years, starting with of its founder. The overall lay-offs
could number around 600 and are driven by the need to cut costs, says a former
employee.
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2014.
INFORMATION DECLINED
MANAGEMENT NON-COOPERATIVE (TEL. NO.: 91-79-23248572)
LOCATIONS
|
Registered Office : |
5th
Floor, Nirman Bhavan, Opposite New Sachivalaya, Gate No.4, ‘CH’ Road, Sector
10/A, Gandhinagar – 382 010, Gujarat, India |
|
Tel. No.: |
91-79-23248572/ 26800000 |
|
Fax No.: |
91-79-23248573 |
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E-Mail : |
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Website : |
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Corporate Office : |
802, 803, 8th Floor, GNFC Info Tower, Sarkhej-Gandhinagar
Highway, Bodakdev, Ahmedabad – 380 054, Gujarat, India |
|
Tel. No.: |
91-79-26859765/ 26800000 |
|
Fax No.: |
91-79-26859766 |
DIRECTORS
AS ON 27.12.2013
|
Name : |
Mr. Indrajeet Prasad Gautam, IAS |
|
Designation : |
Managing director |
|
Address : |
K-201,
Sector - 19, Gandhinagar – 382 019, Gujarat, India |
|
Date of Birth/Age : |
02.04.1953 |
|
Qualification : |
Post Graduate |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
00260908 |
|
|
|
|
Name : |
Dr. Manjula Subramaniam |
|
Designation : |
Director |
|
Address : |
K-504, Sector 20, Gandhinagar, Gandhinagar – 382 020, Gujarat,
India |
|
Date of Birth/Age : |
19.09.1948 |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
00085783 |
|
|
|
|
Name : |
Mr. Gangaram Aloria |
|
Designation : |
Director |
|
Address : |
Government Bungalow – 1, Meghani Nagar Char Rasta, Opposite Fs
Laboratory Meghani Nagar, Ahmedabad – 3800015, Gujarat, India |
|
Date of Appointment : |
27.09.2013 |
|
DIN No.: |
00085783 |
|
|
|
|
Name : |
Ashwinikumar Rajendraprasad Yadav |
|
Designation : |
Director |
|
Address : |
A-2, V N Colony, Old Padra Road, Vadodara – 390020, Gujarat, India |
|
Date of Appointment : |
29.06.2013 |
|
DIN No.: |
02913711 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 27.12.2013
|
Names of Shareholders |
|
No. of Shares |
|
Hon. Governor of Gujarat, represented by Indrajeet Prasad Bhikhi
Gautam, IAS |
|
10 |
|
Hon. Governor of Gujarat, represented by Kanubhai Dahyabhai Suthar |
|
10 |
|
Hon. Governor of Gujarat, represented by Arvind Kumar Sharma, IAS |
|
10 |
|
Hon. Governor of Gujarat, represented by Guruprasad Mohapatra, IAS |
|
10 |
|
Hon. Governor of Gujarat, represented by Syed Jawaid Haider, IAS |
|
10 |
|
Hon. Governor of Gujarat, represented by Mamta Verma, IAS |
|
10 |
|
Hon. Governor of Gujarat, represented by Mukesh Rajnikant Shah |
|
10 |
|
Hon. Governor of Gujarat represented by Ashminkumar Kantilal Sharma |
|
649999930 |
|
Total |
|
650000000 |
AS ON 24.02.2014
|
Names of Allottee |
|
No. of Shares |
|
The Governor of
Gujarat, India |
|
150000000 |
|
Total |
|
150000000 |
AS ON 27.12.2013
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Government [Central and State(s)] |
|
100.00 |
%20COMPANY%20LIMITED%20%20-%20291495_MIRA%2028-Oct-2014_files/image015.gif)
BUSINESS DETAILS
|
Line of Business : |
Subject's main object is
to undertake and carry on the business as nodal agency and / or Commissioning
Authority for Mass Rapid Transport System by establishing Metro-Link between
Gandhinagar and Ahmedabad and in and around and its expansion in the State of
Gujarat. |
GENERAL INFORMATION
|
No. of Employees : |
Information declined by the Management. |
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Bankers : |
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Facilities : |
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Banking
Relations : |
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Auditors : |
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|
Name : |
Ramanlal G. Shah and company chartered accountants |
|
Address : |
Shreeji House, Opposite Tata Teleservices, Behind
Devnandan Mall, Ashram Road, Ellisbridge, Ahmedabad, Gujarat 380009 |
|
Income-tax
PAN of auditor or auditor's firm : |
AAEFR1584J |
CAPITAL STRUCTURE
AFTER 29.09.2014
Authorised Capital : Rs. 20000.000 Millions
Issued, Subscribed & Paid-up Capital : Rs.
11000.000 Millions
As on 31.03.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000000 |
Equity Shares |
Rs.10/- each |
Rs. 20000.000 Millions |
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|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000000 |
Equity Shares |
Rs.10/- each |
Rs. 8000.000
Millions |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
8000.000 |
3775.000 |
100.000 |
|
(b) Reserves & Surplus |
(355.939) |
(124.476) |
(28.197) |
|
(c) Money received against
share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money
pending allotment |
3000.000 |
1725.000 |
400.000 |
|
Total
Shareholders’ Funds (1) + (2) |
10644.061 |
5375.524 |
471.803 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.000 |
2500.000 |
0.487 |
|
(b) Deferred tax liabilities
(Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term provisions |
3.367 |
1.670 |
0.000 |
|
Total
Non-current Liabilities (3) |
3.367 |
2501.670 |
0.487 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
0.000 |
0.000 |
0.068 |
|
(b) Trade payables |
17.457 |
13.482 |
14.944 |
|
(c) Other current liabilities |
311.160 |
187.106 |
13.008 |
|
(d) Short-term provisions |
2.052 |
10.325 |
0.000 |
|
Total
Current Liabilities (4) |
330.669 |
210.913 |
28.020 |
|
|
|
|
|
|
TOTAL |
10978.097 |
8088.107 |
500.310 |
|
|
|
|
|
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II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
146.796 |
120.110 |
24.562 |
|
(ii) Intangible Assets |
97.016 |
13.114 |
8.135 |
|
(iii) Capital work-in-progress |
4871.383 |
2119.480 |
86.830 |
|
(iv) Intangible assets under
development |
0.000 |
26.275 |
1.821 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
326.118 |
135.152 |
8.407 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total
Non-Current Assets |
5441.313 |
2414.131 |
129.755 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
0.000 |
0.000 |
0.000 |
|
(c) Trade receivables |
0.000 |
0.000 |
0.000 |
|
(d) Cash and cash equivalents |
3093.330 |
5666.758 |
368.366 |
|
(e) Short-term loans and
advances |
2434.772 |
2.110 |
1.123 |
|
(f) Other current assets |
8.682 |
5.108 |
1.066 |
|
Total
Current Assets |
5536.784 |
5673.976 |
370.555 |
|
|
|
|
|
|
TOTAL |
10978.097 |
8088.107 |
500.310 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
SALES |
|
|
|
|
|
Income |
0.056 |
52.660 |
10.711 |
|
|
Other Income |
0.012 |
0.012 |
0.001 |
|
|
TOTAL
(A) |
0.068 |
52.672 |
10.712 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Employees benefits expense |
23.627 |
13.790 |
5.487 |
|
|
Other expenses |
79.908 |
97.653 |
16.587 |
|
|
Prior period items |
1.056 |
0.183 |
0.000 |
|
|
TOTAL
(B) |
104.591 |
111.626 |
22.074 |
|
|
|
|
|
|
|
Less |
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION (C) |
(104.523) |
(58.954) |
(11.362) |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.367 |
5.285 |
0.079 |
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(105.890) |
(64.239) |
(11.441) |
|
|
|
|
|
|
|
Less/
Add |
DEPRECIATION/
AMORTISATION (F) |
37.824 |
14.954 |
1.820 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX (E-F) (G) |
(143.714) |
(79.193) |
(13.261) |
|
|
|
|
|
|
|
Less |
TAX
(I) |
87.749 |
17.086 |
3.476 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) AFTER TAX (G-I)
(J) |
(231.463) |
(96.279) |
(16.737) |
|
|
|
|
|
|
|
|
Earnings
/ (Loss) Per Share (Rs.) |
(0.09) |
(0.08) |
(1.67) |
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
PAT / Total Income |
(%) |
(340386.76) |
(182.79) |
(156.25) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(256632.14) |
(150.39) |
(123.81) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(2.35) |
(1.33) |
(3.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.01) |
(0.01) |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.00 |
0.47 |
0.00 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
16.74 |
26.90 |
13.22 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
100.000 |
3775.000 |
8000.000 |
|
Reserves & Surplus |
(28.197) |
(124.476) |
(355.939) |
|
Share Application money
pending allotment |
400.000 |
1725.000 |
3000.000 |
|
Net
worth |
471.803 |
5375.524 |
10644.061 |
|
|
|
|
|
|
long-term borrowings |
0.487 |
2500.000 |
0.000 |
|
Short term borrowings |
0.068 |
0.000 |
0.000 |
|
Total
borrowings |
0.555 |
2500.000 |
0.000 |
|
Debt/Equity
ratio |
0.001 |
0.465 |
0.000 |
%20COMPANY%20LIMITED%20%20-%20291495_MIRA%2028-Oct-2014_files/image017.gif)
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
10.711 |
52.660 |
0.056 |
|
|
|
391.644 |
-99.894 |
%20COMPANY%20LIMITED%20%20-%20291495_MIRA%2028-Oct-2014_files/image019.gif)
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
10.711 |
52.660 |
0.056 |
|
Profit |
(16.737) |
(96.279) |
(231.463) |
|
|
(156.26%) |
(182.83%) |
(413326.79%) |
%20COMPANY%20LIMITED%20%20-%20291495_MIRA%2028-Oct-2014_files/image021.gif)
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITIES OF LONG-TERM DEBT DETAILS: NOT AVAILABLE
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if
applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm
/ promoter involved in |
Yes |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
LITIGATION DETAILS
HIGH COURT OF GUJARAT
MISC.CIVIL APPLICATION (STAMP NUMBER) (FOR REVIEW) No. 3098 of 2014
In SPECIAL CIVIL APPLICATION / 12710 / 2014 (DISPOSED) On : 15/09/2014
|
Status : PENDING |
CCIN No :
001018201403098 |
|
Last Listing Date: |
|||||||||||
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|
S.NO. |
Name of the Petitioner |
Advocate On Record |
|||||||||
|
1 |
M/S SHREE SHIV SHAKTI TRADING |
MS AMRITA M THAKORE for: Applicant(s) |
|||||||||
|
S.NO. |
Name of the Respondant |
Advocate On Record |
|||||||||
|
1 |
METRO LINK EXPRESS FOR GANDHINAGAR AND AHMEDABAD (MEGA) CO. LTD. |
||||||||||
|
Presented On |
: 16/10/2014 |
Registered On |
: - |
||||||||
|
Bench Category |
: - |
District |
: AHMEDABAD |
||||||||
|
Case Originated From |
: THROUGH ADVOCATE |
Listed |
: 0 times |
||||||||
|
StageName |
: - |
||||||||||
%20COMPANY%20LIMITED%20%20-%20291495_MIRA%2028-Oct-2014_files/image022.gif){kind=small}
|
Classification |
|
|
Act |
|
Office Details
|
|
S. No. |
Filing Date |
Document Name |
Advocate Name |
Court Fee on
Document |
Document Details |
|
1 |
16/10/2014 |
VAKALATNAMA |
MS AMRITA M THAKORE ADVOCATE |
5 |
MS AMRITA M
THAKORE(3208) for P:1 |
|
2 |
16/10/2014 |
CERTIFIED COPY |
MS AMRITA M THAKORE ADVOCATE |
5 |
MS AMRITA M THAKORE(3208),
for P:1 |
|
3 |
16/10/2014 |
MEMO OF APPEAL/PETITION/SUIT |
MS AMRITA M THAKORE ADVOCATE |
20 |
MS AMRITA M
THAKORE(3208), for P:1 |
INDEX
OF CHARGES: NO CHARGES EXIST FOR COMPANY
OVERVIEW
The State Government recognizes the crucial role which can be played by a metro-rail system in a city by supplementing the requirements of growing urbanization and by catalyzing the development. Your Company has been incorporated on 4th February, 2010 with the aim of providing metro-rail service to the cities of Ahmedabad and Gandhinagar.
When completed, MEGA would make a significant contribution to the development of Gujarat. Taking the present urban agglomerations of Ahmedabad and Gandhinagar into account, MEGA would act as a conduit for the economic and social development of both the cities. Your Company is committed to providing world class metro-rail services for Ahmedabad and Gandhinagar. The management of MEGA has taken the required steps for the effective implementation of the Ahmedabad- Gandhinagar Metro Rail Project.
CORPORATE INFORMATION
Subject domiciled in India and incorporated under the provisions of the Companies Act 1956. The Company's main object is to undertake and carry on the business as nodal agency and / or Commissioning Authority for Mass Rapid Transport System by establishing Metro-Link between Gandhinagar and Ahmedabad and in and around and its expansion in the State of Gujarat. The entire project is planned to be executed in Phased manner. The construction of Phase I consisting of 36 Km within Ahmedabad City is likely to be commenced by September 2014 and to be completed by 2018.
FIXED ASSETS
Tangible assets
- Furniture and fixtures
- Vehicles
- Office equipment
- Computer equipments
- Leasehold improvements
- Furniture and fixtures
Intangible assets
- Computer software
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No exist to suggest that subject is or was
the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.23 |
|
|
1 |
Rs.98.53 |
|
Euro |
1 |
Rs.77.75 |
INFORMATION DETAILS
|
Information
Gathered by : |
HTL |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors and their relative weights (as indicated
through %) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment record
(10%)
Credit history
(10%) Market trend (10%) Operational size
(10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.